RATE Group | Grayscale GBTC Gap Closes, What This Means for Bitcoin
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Grayscale GBTC Gap Closes, What This Means for Bitcoin

21 Jan Grayscale GBTC Gap Closes, What This Means for Bitcoin

Posted at 16:47h in Bitcoin News by

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Grayscale’s GBTC fund attracted attention with the relatively large large gap between its share price and Bitcoin (BTC) spot prices. The closing of the gap may become a signal for future BTC developments, as currently the share price converges with BTC positions.

GBTC Gap Remains Dynamic, May Move Within Hours

At the moment, there is still a small gap, which suggests GBTC buyers are not willing to pay more for the shares. Timothy Peterson, Bitcoin analyst, believes the gap has a historical record of closing in, thus the current situation suggests a price move on either side.

This gap in $GBTC vs. $BTC must close. Either $GBTC up or #bitcoin down

GBTC shares traded at $10.06 on Tuesday, achieving a premium very fast, with a 12% growth in the past day. Price positions can potentially shift within hours, as Grayscale data showed a price for holdings per share at $8.53. In a tweet Grayscale reported,

01/17/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price…

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